The maximum unit price that Sark Electricity Limited (“SEL”) can charge for electricity will decrease from 56p/unit to 53 p/unit from the 1st May 2024.
This price decrease is because of the monthly correction mechanism in the price control which has been in place since 1st April 2024.
In March 2024 consumer demand was 12.7% greater than forecast and fuel prices were 1.4% lower than forecast. These factors have meant that the maximum unit price can return to the value in the price control of 53 p/kwh.
It is not possible to say for sure what will happen to prices in the months ahead. If demand remains higher than forecast and/or fuel prices remain lower than forecast, this will have a downward effect on prices. However, it is likely that some capital expenditure will be approved for SEL, and this will have an upwards effect on prices.
The monthly connection fee will remain capped at £10/meter and the monthly standby charge for own-generators will remain capped at £5/KW of installed capacity.
Shane Lynch
Electricity Price Commissioner
Commissioner@epc.sark.gg
©2024 Electricity Prices Control Commissioner, Sark, Channel Islands
